DETROIT, MI - Wayne County has set a Friday, Nov. 15 deadline for Illinois developer Bill Hults to pay the balance of what he owes on a $2,003,000 bid in the county tax foreclosure auction.for Detroit's Packard Plant.

So far, Hults has paid a nonrefundable deposit of $200,000. The full statement emailed Friday morning from Wayne County Treasurer Ray Wojtowicz is below.

After a Texas doctor failed to make any payments for her $6.038 million high bid on the Packard Plant, the county cancelled the bid last week and offered the 3.5-million-square-foot property to Hults, who had already been in discussion with the county about buying the massive chunk of blight before the auction began.

Hults told the Detroit News in July that he wants to turn the property into a mixed-use residential and entertainment complex.

The county is keen on getting that money for the abandoned 42-parcel Packard Plant, which has nearly $1 million in back taxes owed on it, but it is not immediately clear what steps the Treasurer's office will take next.

The property failed to draw any bids in the first round of the auction in September, when the starting bid was almost $1 million, or the back taxes owed to the county. In the second round of the auction, the minimum bid per parcel was just $500, which put the minimum bid for the Packard Plant at $21,000 when it first hit the auction block. It ultimately drew 117 bids.

Vacant and in disrepair for about two decades, the Packard Plant has been an iconic part of Detroit’s “ruin porn," in which tourists and others gawk at and take photos of the city's abandoned and blighted buildings. It was designed by Albert Kahn and built in 1903.

The Packard Motor Car Company manufactured luxury vehicles there until 1958. Other businesses had been using the property of storage until the 1990s, when it was left completely vacant. From there, scrappers moved in and gutted what they could, while graffiti artists and others have since used the property as an urban canvas and playground.

This is the emailed statement from Wojtowicz:

“The efforts to return the Packard Plant to useful purposes continue. I have met with Bill Hults and have given him until Friday, November 15 to pay the remainder of his purchase price. Hults has paid $200,000 towards his purchase price of $2,003,000. The remaining funds are to be wire transferred to the Treasurer’s Office in one week. The $200,000 paid represents a deposit that is not refundable should Hults be unable to pay the remainder of the price."

David Muller is the business reporter for MLive Media Group in Detroit. Email him at dmuller@mlive.com or follow him on Twitter or Facebook.